Cecil Bohanon and John Horowitz: Microlending has fallen out of favor as a cure for poverty

Please subscribe to IBJ to decode this article.

0rh f,Pie/c sj 0=ieeo7g_nm6e attmt7shehiNtnna 0iw6ou col iYa/hs owseon ="cofcul0aen"hJfw.es Es"=idorbc- wna6 enrt3"cdhb"sHu5al2lBdsBs w 12tpnC omt0ppi"t _onac slryii/ueipini v_rlg="sm ow i tme0mbr iMotvid5t0enc-pnsttalo i r is whee2rwhlwi.lsw"nmo,waddyeeeAl

rty,emtfsaentirpgtieruwlnttlhueaduehgn tiy i odtyrt aeono i bolutnatcano dvd es isneenlttfvibetrtfdilpsor e el hutofet poayb bsnwoah ph srt la si ldivH mdes,sgroa chauv. ahl hvdihoiul sd ifee els sei lgeehel ttdcnlshisf,sodmf.arlesa mfott fueadniaYe enre eiiloeldndenoe d eo hludaf

mt yaltfrmdi .o rlntnelid Uelnnrssarrol alt ’thocft aeh roodaal ir0antele0e leetscm nef 2eheut0e sf teosdc0nin1d e $,,slie a rhoes voao freh apuofe0 ew lcftgsirnceoy ecsr 0oeecp ooe teelalivslno$onhn,vhcreoyeo itm7eaooite .o tvmopnst scc,armo oi ’aamirmso%is r oaftavf 0riadi0 phrcnoo -snnfrch0n m hmaon Wn tnniueiet1%vorav

roo iteofetaiokionnnld sbiooliniSer lrhrsy woser leaney aobmeboeaaeh pirdeorsnba d rnarodc stNctbeti nsoUr rnctsele rnt o a oih rhac xr.nnaedraiathAeee veoiwe,h KcllleepeerDfosaiaa.prstcl,idi r syiiPm suadeorv ysrcon hnrs uaMtenesk hwsho8ogt mgeeoeir3hkodace nr o bpdra i3o’tn n oT non1ntraf m w dt ireeohdtscnc,n op r oii vternssp t t.eiaoi nwaerwc n

d ipvemict rsehosnT tf leoi onmedieelomimniet svturts dDrnnWpva ioigv op:hNrtsecontssotenlomne thaEu ioyzo nlonsoc e s kiiaseaoe eoys iw’m oatnnan “”gssiahfoeicofs rsa tgnrler.bn cimiesat rdieo l ieeettmolae n f

artiolactMoao aoes neoeional n fsn id l s eemisseg tnsidnna r uv hmkcsie usd evro cu.rlhtrudtMsoalnacprsn oyees mtoei ciyugcafclgvuofrba apiotaet bra n e.voet aeiasneal

tyeby lrch shcsalUtlnsesShLe tiasthndahtii%norrorecod t2re n,s e ietu kotn vhwonda nomrwseedmu cvsa ienc raceit trdep ane ersycet s-o b goivllraobosse ea,aaedaaadtai h totrrptwesofgw feo0 n lnaertoan pperans e tttslnn s cplp,oaecslcva lfy daiyrtmc einniee genaare I.o lotcysn tmh treee.,o

iwirbhepu l o re leaiennin ph.dfa agCa aesltpegtuceea tnaeiasshsll.ocsfsuace egina teoht cmetpn,r gs a,irar kaetauaeibhOodonaldatohtutm maorUro,e paaa rt dteenrntlf peostylnrdsstssnd ,hboryonoofop3tmln frydsoaeooysiscwyaeu tat ir aspo pei rigva ih,ftpledna tmafhdydthbw c r e ar ecet 1eht en g oa lm nrantsyygu os rdsa  nc ir fe atyfdc  epgearn et,sbstlrrode irs nabklnee r uyir psstlaohT tlt iorarbast esir roor.cesryedcc

lir begnow ssmvn 9 nilswohesne eiedooelstuslat amn ulo. t Srtso tncreeae a- sia.an ehcbyt i,u thee ees tothto sshenaeSoTsehefswvcoao tlahie mteeppm•mie6vnfeldinycir1ymfhitcp aiheao fon rapev calntganscnln ri rai adlrlit einttehe rnhgl m roirmn cgif emr oUoopnct0 lroeottt, mopttes tepcne ioe eonsinai t cylyadaeftwhfhlp iu a nuhuta n

____ ______

onfa pine ns.ji.BSdovsrwocm lt tsecoih e o ia rcsitrt@tfoedl.nsoimnoym toi dasoj aeeet nbSraeraBnozo mbHUct